“On any given day, a 1 percent move up or down is not unthinkable and as we’ve seen over the past few months, a 4 percent move up or down is no longer a rarity. And as we saw on October 10th, a 10 percent intraday move is not nearly as impossible as many believed. Here’s where merely thinking about numbers helps: You have to have previously thought, ‘Gee, if I ever see a 10 percent move down, intraday, I’m going to be buying the hell out of that.’ But if you haven’t gone through that thought process beforehand, when the opportunity confronts you, it’s like looking at a car wreck. Part of you says, ‘Gee, I ought to go over and help those people’ but the spectator part of you is just thinking, ‘Man, look at that thing burn.’”
